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Apr 13 - 09:55 AM

EUR/USD: 3 Reasons To Fade Rallies N-Term - Citi

By eFXdata  —  Apr 13 - 08:18 AM

Citi likes selling EUR/USD on rallies in the near-term.

"We are biased towards fading the recent EURUSD rally in the short-term, as i) we expect downward pressure on US rates to be temporary and long-end US-EU rate spreads to widen on growth, fiscal and central bank divergence, ii) vaccination progress remains slow despite peaking new cases, and iii) EUR funding outflow continues," Citi notes. 

"In the medium-term, we still expect EURUSD upside driven by the global recovery," Citi adds. 

Citi Research/Market Commentary


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